25.02.2020 07:13:29

Equinor Stops Exploration Drilling Plan In South Australia

(RTTNews) - Norwegian energy company Equinor (EQNR), formerly Statoil ASA, said that it has decided to discontinue its exploration drilling plan in the Ceduna sub-basin, offshore South Australia, as the project's potential is not commercially competitive.

Equinor said it has informed the federal, South Australian and local authorities about its decision. The company entered the licences in the Ceduna sub-basin as a partner in 2013 and took over as operator with a 100% equity share in 2017.

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